EFLVF - EFLVF STOCK NEWS

Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF) has appointed Kartick Kumar to its Board of Directors, effective immediately. Kumar brings over two decades of experience in investment and operations across various regions, notably in renewable energy and climate change initiatives. His expertise includes mobilizing $2.5 billion for growth-oriented companies and advising financial institutions on carbon pricing. Chairman Alexander McLean expressed confidence that Kumar’s strategic insights will benefit Electrovaya’s growth in the lithium-ion battery market, pivotal for energy transformation and climate mitigation.

Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF) announced a new $3 million battery purchase order from a Fortune 100 company, increasing total orders for 2022 to approximately $6 million. The batteries will be utilized in Materials Handling Electric Vehicles in a US distribution center, with deliveries planned by the end of March 2022. The end user is expected to make additional purchases in the first half of 2022, although the timing remains uncertain. Prior orders were successfully deployed in 2021, reflecting strong demand for Electrovaya's lithium-ion batteries.

Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF) announced the receipt of a $3.05 million battery purchase order for Materials Handling Electric Vehicles from a Fortune 100 company. This follows successful deployments in 2021 and is expected to deliver in the fiscal second quarter ending March 31, 2022. The company anticipates further orders in the first half of 2022, although there is no certainty for these future orders. The COO highlighted expectations for the end user to become Electrovaya's largest MHEV battery operator by year-end.

Electrovaya Inc. reported its Q4 FY2021 and FY2021 financial results, highlighting a 40% decrease in Q4 revenue to $4.2 million, while total revenue for FY2021 fell to $11.6 million from $14.5 million in FY2020. The decline is attributed to reduced order volume due to a transition to the new OEM Strategic Supply Agreement. However, the company anticipates revenue of approximately $27 million in FY2022, more than doubling FY2021’s figures, driven by expected sales through direct channels and OEM partnerships.

Electrovaya Inc. (EFLVF) will release its financial results for the quarter and year ended September 30, 2021 on December 20, 2021, after market close. A conference call will follow on December 21, 2021, at 8:00 a.m. ET, led by CEO Dr. Sankar Das Gupta and CFO Richard Halka. Investors can access the call via toll-free numbers in the US and Canada or internationally. The company specializes in Lithium Ion Super Polymer® batteries for energy storage and electric transportation, operating from its headquarters in Ontario, Canada.

Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF), a leader in lithium-ion battery manufacturing, will present at the Sequire CleanTech & EV Conference on December 6th, 2021, at 1:00 PM ET. The company focuses on enhanced safety and longevity in its battery products, aiming to support the growing demand for clean technologies and electric vehicles. Attendees can register to view the presentation online and request one-on-one meetings with Electrovaya representatives.

Electrovaya Inc. (TSX:EFL)(OTCQB:EFLVF) announces the appointment of Steven Berkenfeld as a Special Advisor to the CEO and Board. Berkenfeld, former Managing Director at Barclays, brings extensive experience in capital markets and sustainability. His role will focus on strategic guidance to enhance the company’s growth across various markets. CEO Dr. Sankar DasGupta expressed excitement over Berkenfeld's expertise, particularly in Cleantech and environmental impact as the company pursues innovations in lithium-ion battery technology.

Vicinity Motor Corp. (NASDAQ:VEV) has announced a strategic supply agreement with Electrovaya (TSX:EFL) for Lithium-ion battery systems. This partnership aims to enhance the company’s Vicinity Lightning™ EV buses and fully electric VMC 1200 Class 3 trucks. The collaboration follows extensive engineering evaluations, ensuring reliable battery systems for Vicinity’s growing product line. With Electrovaya's advanced NMC ceramic lithium-ion battery technology, this agreement strengthens Vicinity's supply chain and boosts customer confidence in performance and safety.

Electrovaya Inc. has signed a strategic supply agreement with Vicinity Motor Corp. to provide lithium-ion battery systems for Vicinity's electric buses and trucks. This agreement focuses on Vicinity Lightning™ EV buses and VMC 1200 Class 3 trucks, utilizing Electrovaya's advanced NMC Ceramic battery technology. Vicinity expects to deliver over 95 Classic buses, 75 Lightning EV buses, and 200 VMC 1200 trucks, aiming for over $140 million in revenue by year-end 2022. This partnership strengthens Vicinity's supply chain and offers enhanced performance and safety to customers.